Adviser to the Minister of Industry, Mine and Trade for International Affairs Mohammad-Reza Fayyaz said that Iran is planning to increase trade volume with Qatar to $1 billion.

He put the trade volume between Iran and Qatar in the past Iraian fiscal year (ended March 20, 2018) at $320 million and added, “after a 12-year hiatus, Iran and Qatar Joint Commission was held in Qatari capital Doha, during which an agreement was inked between the trade ministers of the two countries.”

He added, “Iranian trade and economic delegation, headed by the minister of Industry, was composed of 40 businessmen from the private secto and 40 others from the public sector. During the expert-level meeting, the two sides discussed ways to exapnd trade and economic cooperation.'

Although trade volume exchanged between the two countries already stood at a good level but such bilateral trade was not satisfactory, he said, adding, “with the coordination made in this regard, it has been envisioned that trade volume between the two countries will experience a considerable jump in 2018.”

The two sides held constructive talks in the following fields: facilitating entry of Iranian traders and merchants, easing visa issuance with regard to the economic, trade, business and banking issues, making investment in transport, information technology (IT), free zones, agriculture and environment, oil, gas, petrochemicals and tourism, Fayyaz noted.

Moreover, the two sides exchanged their views in the field of export of technical and engineering services from Iran to Qatar and vice versa as well as making investment in the mining sector.

Fayyaz further pointed to the necessity of facilitating transportation between the two countries and said, “it is hoped that Iran and Qatar will take more giant strides in future to broaden trade and economic ties.”

The next meeting of Iran and Qatar Joint Economic Commission will be held in Tehran.